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themerkle (OP)
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October 31, 2015, 09:24:25 AM |
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The Bitcoin uptrend has been truly amazing to behold, but the technicals are flashing warning signs all over the place. Today’s daily candle is looking like it is going to close as a very large ‘Pin’. When bitcoin was trading at $220 in August, a very similar candle formation signaled that the market was oversold and that a reversal was on the way. I wrote about that particular candle in my tech analysis article on the 25th of August. Is bitcoin in overbought territory today? Quite possibly! The market has not had any noticeable pull-backs since October began, so today’s Pin-Bar may very well be hinting at a bull market that has overextended itself. Read More: http://themerkle.com/market-analysis/bitcoin-technical-analysis-for-30102015-is-the-trend-over/ |
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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1Referee
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Activity: 2170
Merit: 1427
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October 31, 2015, 09:33:43 AM |
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I do think that Bitcoin currently is over-bought. I expect the price to stay around the $300-$320 for a few weeks, and maybe even sub $300 for a short while. All this is just a raw guess. We can also continue the bull run next week to $350 and even higher. I only hope we'll not fall back to sub $300 to stay there again for months.
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premium_domainer
Legendary
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Activity: 1764
Merit: 1012
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October 31, 2015, 05:51:29 PM |
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dothebeats
Legendary
Offline
Activity: 3640
Merit: 1352
Cashback 15%
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October 31, 2015, 06:00:51 PM |
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Read that one too, and also made me think that we are nearing a crash right now. Time to take profits I guess? Signals hint at the negative side. |
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ssmc2
Legendary
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Activity: 2002
Merit: 1040
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October 31, 2015, 06:04:49 PM |
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Read that one too, and also made me think that we are nearing a crash right now. Time to take profits I guess? Signals hint at the negative side. Seems that way. The question is, when we get in the 260-280 range, do we keep going back down to our yearly average or do we fake out all the wittle bears then rocket back up with a vengeance?  |
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dothebeats
Legendary
Offline
Activity: 3640
Merit: 1352
Cashback 15%
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October 31, 2015, 06:08:47 PM |
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Read that one too, and also made me think that we are nearing a crash right now. Time to take profits I guess? Signals hint at the negative side. Seems that way. The question is, when we get in the 260-280 range, do we keep going back down to our yearly average or do we fake out all the wittle bears then rocket back up with a vengeance? Hard to tell until we get there. But for now it seems that this thing won't continue on pushing farther because bitcoin is currently overbought. Might as well take profits now before it goes sub-$300 again. |
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ynef
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October 31, 2015, 09:11:52 PM |
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If it can continue to hold steady above $300+ I don't see why it can't go further up in November. The selling that's happening right now is currently looking like a good correction that was bound to happen soon, but it can of course ruin my expectations of a Bollinger Bands breakout on the 1W time scale. I was kind of looking forward to that... Read more here: http://ynef.net/bitcoin-holding-steady-over-the-highest-point-ever-in-the-year-2015/ |
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smith coins
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October 31, 2015, 09:18:07 PM |
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As long as it stays above 300 USD it will be still good.
I had a feeling that after a huge pump there would be a dump of price.
By now i think that the trend is over, maybe we will see after a week or two a pump again.
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